29438838 - Florida Administrative Rules, Law, Code, Register

Florida Department of State and Division of Library and Information Services


Notice: 29438838
Notice of Meeting/Workshop Hearing

Division:	Florida Local Government Finance Commission


Overview



	The Florida Local Government Finance Commission announces a hearing to which all persons are invited.

DATE AND TIME:	April 15, 2025, 10:00 a.m.

PLACE:	Via Telephone Conference: Toll free 1 (877) 304-9269

Subject:	For the purposes of Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"), notice is hereby given that the Florida Local Government Finance Commission (the "Issuer") will hold a public hearing on April 15, 2025, at 10:00 A.M., local Orlando, Florida time, or as soon thereafter as practicable. In accordance with Internal Revenue Service Revenue Procedure 2022-20, this public hearing will be held by telephone conference. Interested persons are encouraged to attend the telephone conference using the following instructions: TELEPHONE CONFERENCE INSTRUCTIONS: TOLL-FREE DIAL IN NUMBER: 1 (877) 304-9269 PASSCODE: 359237# The public hearing is being conducted for the purpose of receiving comments and hearing discussion concerning the proposed adoption by the Issuer of a resolution approving the issuance and sale by the Issuer of not exceeding $30,000,000 of its Florida Local Government Finance Commission Senior Living Revenue Bonds (Orlando Senior Health Network Project), Series 2025A to be issued in one or more tax-exempt and/or taxable series of qualified 501(c)(3) bonds, as defined in Section 145 of the Code (collectively, the "Bonds"), pursuant to a plan of finance. The proceeds of the Bonds, when and if issued, will be loaned to Orlando Lutheran Towers, Inc, a Florida not-for-profit corporation, d/b/a Orlando Senior Health Network (the "Obligor"). The Bonds are being issued to provide for the financing and refinancing (including reimbursement for prior related expenditures) of: (1) renovation of the existing "Fountains" building, including construction of a new façade, Port Cochere, replacement of windows, packaged terminal air conditioner units, exterior walkways, rooftop improvements, other common areas and various other capital improvements to the existing senior living facilities of the Obligor located at 300 East Church Street, Orlando, Florida, 32801 (the "Community") and certain pre-construction development costs related to constructing and equipping certain expansions to the Community, all part of the overall capital improvement program of the Obligor (collectively, the "Project"); (2) any capitalized interest and necessary reserves for the Bonds; and (3) costs associated with the issuance of the Bonds. The Community will continue to be owned by the Obligor and shall be operated by the Obligor (or an entity or entities affiliated with or designated by the Obligor pursuant to one or more qualified use or management agreements). The Bonds shall be payable solely from the revenues derived by the Issuer from a loan agreement, mortgage and security agreement and other financing documents entered into by and between the Issuer and the Obligor prior to or contemporaneously with the issuance of the Bonds. Such Bonds and the interest thereon shall not constitute an indebtedness or pledge of the general credit or taxing power, if any, of the Issuer, Brevard County, Charlotte County, Lee County, Osceola County, Sarasota County, St. Johns County, the State of Florida, or any political subdivision or agency thereof. The Issuer has no taxing power. Issuance of the Bonds shall be subject to several conditions including satisfactory documentation, the approval by bond counsel as to the tax-exempt status of the interest on all or a portion of the Bonds and receipt of necessary approvals for the financing. The aforementioned hearing shall be a public hearing and all persons in attendance will be given an opportunity to be heard and to express their views on the proposed issuance of the Bonds and the location and nature of the Project by accessing the telephone conference as indicated above. Written comments may also be submitted prior to the hearing to the Florida Local Government Finance Commission c/o Nabors Giblin & Nickerson, P.A. at 2502 N. Rocky Point Drive, Suite 1060, Tampa, Florida 33607, directed to Issuer's Counsel or via email sent to the following email address: rharb@ngn-tampa.com. Comments made at the hearing are for the consideration of the party(ies) providing an approval of the Bonds but will not bind the Issuer or such party(ies) as to any action it may take. ALL PERSONS FOR OR AGAINST SAID APPROVAL CAN BE HEARD AT SAID TIME AND PLACE. IF A PERSON DECIDES TO APPEAL ANY DECISION MADE BY THE ISSUER WITH RESPECT TO SUCH HEARING OR MEETING, (S)HE WILL NEED TO ENSURE THAT A VERBATIM RECORD OF SUCH HEARING OR MEETING IS MADE (AT THEIR SOLE COST AND EXPENSE), WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS BASED. Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in the meeting is requested to advise the Issuer at least twenty-four (24) hours prior to the meeting by contacting counsel to the Issuer at (813) 281-2222 or via email sent to the following email address: rharb@ngn-tampa.com. By order of the Florida Local Government Finance Commission. FLORIDA LOCAL GOVERNMENT FINANCE COMMISSION /s/ Nicole Jovanovski Chair


	A copy of the agenda may be obtained by contacting: Richard B. Harb at (813) 281-2222 or rharb@ngn-tampa.com

PRINT PUBLISH DATE:	4/8/2025 Vol. 51/68


REFERENCE MATERIALS:	No reference(s).

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